UK FCA launches discussion on competition impacts of Big Tech on financial services ind... - 0 views
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John Kiff on 01 Nov 22The UK Financial Conduct Authority (FCA) has announced that it plans to examine the issue of regulation of Big Tech's financial services. The UK regulator is to consider how such regulation of firms such as Apple, Google and Amazon could prevent the potential for them causing harm to the financial services sector. While acknowledging the ability of such companies to bring innovative approaches to financial services, the FCA has voiced concerns that if they build dominant positions this could lead to a "potential exploitation of market power".